The Board Meeting Process
A board meeting could be an important event for a company, therefore it should be productive and efficient. Making sure there is a clear agenda, and focusing the discussion on relevant topics will maximize the value of every minute of a board meeting. A focussed discussion can keep away distractions like rambling and unproductive side discussions.
The first step in a typical board meeting is to make sure that a quorum attend the meeting. The presiding board member or officer is the one who takes attendance and then checks the attendance list. This allows for any changes to the quorum as well as an accurate record of who attended the meeting.
The board is then presented with a variety of reports. This includes committee reports as well as executive https://boardmeetingpro.blog/how-to-apply-ethical-behavior-in-the-workplace reports and financial updates. During this stage the board examines these reports and then discusses them to make informed decisions regarding the future direction of the company. These reports are typically reviewed and pre-approved via email or telephone by the directors before the meeting. This can speed up processing during the meeting and ensure that all members are aware of report’s contents.
After the review of all reports, it is time to discuss strategies that will help the business grow and reach its goals for the organization. These strategies should be accompanied by key performance indicators (KPIs) to assess their effectiveness. These KPIs should be quantifiable, and aligned to the organization’s goals. They should be able to be used in a realistic way and achievable.